Big C Supercenter has chosen investment banks Bank of America Corp and UBS Group AG to facilitate a possible initial public offering of around $1 billion on the Stock Exchange of Thailand, according to a Bloomberg report which cited a source with knowledge of the matter.
Kasikorn Securities is among the four Thai advisors appointed for the deal, a person familiar with the matter told DealStreetAsia. The public debut could take place this year, Bloomberg reported.
Berli Jucker Pcl, a conglomerate owned by Thailand’s wealthiest person Charoen Sirivadhanabhakdi of Charoen Phokphand Group, previously said in a voluntary statement in November that no decision about the IPO has been made.
Founded in 1993 by one of Thailand’s largest mall operator and developer Central Group, Big C raised around 4.2 billion baht in a 2012 IPO before Berli Jucker took it private in 2017 in a 58.6% stake acquisition from France-based Casino Guichard Perrachon SA.
The company operates convenience shops, supermarkets, and hypermarkets across Southeast Asia, including Thailand, Vietnam, Laos, and Cambodia.